EchoStar (NASDAQ:SATS) Hits New 12-Month High – Time to Buy?

Shares of EchoStar Corporation (NASDAQ:SATS) reached a new 52-week high on Tuesday . The stock traded as high as $62.68 and last traded at $62.23, with a volume of 545027 shares traded. The stock had previously closed at $61.79.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on EchoStar from $43.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. TD Cowen increased their price objective on EchoStar from $28.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Morgan Stanley increased their price objective on EchoStar from $25.00 to $59.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 27th. Citigroup reiterated a “neutral” rating on shares of EchoStar in a research report on Friday. Finally, Cowen reiterated a “buy” rating on shares of EchoStar in a research report on Wednesday, August 27th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.90.

EchoStar Stock Up 2.2%

The company has a debt-to-equity ratio of 1.28, a current ratio of 1.22 and a quick ratio of 1.15. The company has a market cap of $18.17 billion, a P/E ratio of -60.14 and a beta of 0.98. The stock has a 50-day moving average of $31.75 and a 200 day moving average of $26.53.

EchoStar (NASDAQ:SATS) last released its earnings results on Friday, August 1st. The communications equipment provider reported ($1.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.12) by $0.06. EchoStar had a negative return on equity of 1.58% and a negative net margin of 2.04%.The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the previous year, the business posted ($0.76) earnings per share. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. Research analysts anticipate that EchoStar Corporation will post -1.99 earnings per share for the current year.

Institutional Trading of EchoStar

A number of hedge funds have recently made changes to their positions in SATS. Farther Finance Advisors LLC lifted its stake in shares of EchoStar by 8,125.0% in the first quarter. Farther Finance Advisors LLC now owns 987 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 975 shares during the period. State of Wyoming bought a new stake in EchoStar in the fourth quarter worth approximately $47,000. Fifth Third Bancorp increased its holdings in EchoStar by 44.5% in the first quarter. Fifth Third Bancorp now owns 1,841 shares of the communications equipment provider’s stock worth $47,000 after purchasing an additional 567 shares in the last quarter. Lazard Asset Management LLC bought a new stake in EchoStar in the second quarter worth approximately $73,000. Finally, GAMMA Investing LLC increased its holdings in EchoStar by 39.6% in the first quarter. GAMMA Investing LLC now owns 3,441 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 976 shares in the last quarter. 33.62% of the stock is owned by institutional investors and hedge funds.

About EchoStar

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in four segments: Pay-TV, Retail Wireless, 5G Network Deployment, Broadband and Satellite Services. The Pay-TV segment offers a direct broadcast and fixed satellite services; designs, develops, and distributes receiver system; and provides digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; and multichannel, live-linear and on-demand streaming over-the-top internet-based domestic, international, Latino, and Freestream video programming services under the DISH and SLING brand names.